Home Depot Gains on Earnings; Baidu Slips on Outflows; Alibaba Jumps

Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Shares of Home Depot (HD) moved higher in the premarket session after posting an earnings beat in the latest quarter. Comparable sales, which measure results at stores open for at least a year, rose 1.7% during the period ended August 2nd, better than the average of analyst estimates and the highest since late 2022. Adjusted earnings also surpassed expectations. The stronger-than-expected report shows the company’s moves have helped to blunt the impact of a housing market that’s weighed down by high home prices and interest rates.
- US-listed shares of Baidu (BIDU) declined in early trading after the Chinese search-engine operator reported its fifth quarter of free cash outflow in the past six, thanks to soaring capital expenditures. Its revenue was shy of analyst estimates, dragged by underperformance at its subsidiary iQiyi. Advertising is still the company's profit engine but has been shrinking for two years, but it now accounts for less than half of sales compared with the peak of about 90%.
- US-listed shares of Alibaba (BABA) rallied ahead of Tuesday's opening bell after the launch of a new ecommerce platform boosted optimism toward the company before its June quarter earnings this week. Subsidiary Alipay rolled out a new “all-in-one” platform for businesses aimed at using AI agents to automate tasks. Alibaba shares have now rallied more than 40% from a low in June, rebounding from a selloff earlier this year.

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